BioLite secures $10.7 million from Africa Go Green fund for clean cookstoves in Zambia

BioLite has received a $10.7 million senior debt facility from Africa Go Green, a climate-focused fund managed by Cygnum Capital. The funding will finance the purchase and distribution of over 160,000 improved cookstoves across Zambia. The carbon credits generated will be sold to Switzerland's KliK Foundation under an Article 6.2 mitigation outcomes purchase agreement. This deal is notable because it uses debt repaid from future carbon revenues rather than relying on grants or equity. Cygnum says this structure shows that high-integrity carbon projects can be treated as bankable assets. Clean cooking is one of the most underfunded climate solutions, and in Zambia many households still cook with charcoal and firewood. The project aims to cut fuel use and emissions while improving health and household economics, especially for women and children in rural areas.